PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Cat Rock Capital Management LP

Cat Rock Capital Management LP decreased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 445,228 shares of the company’s stock after selling 8,000 shares during the quarter. PDD accounts for approximately 7.3% of Cat Rock Capital Management LP’s investment portfolio, making the stock its 3rd largest position. Cat Rock Capital Management LP’s holdings in PDD were worth $58,846,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PDD. Binnacle Investments Inc boosted its holdings in shares of PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. EMC Capital Management bought a new stake in shares of PDD during the second quarter worth $52,000. Assetmark Inc. grew its stake in shares of PDD by 314.4% during the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after buying an additional 305 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in PDD during the 2nd quarter worth $56,000. Finally, Global Retirement Partners LLC boosted its stake in shares of PDD by 215.7% during the third quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock valued at $58,000 after purchasing an additional 302 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Bank of America reduced their price target on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Citigroup reiterated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Loop Capital set a $170.00 target price on shares of PDD in a report on Tuesday, January 6th. Morgan Stanley set a $148.00 price target on shares of PDD in a research report on Thursday, January 15th. Finally, Sanford C. Bernstein set a $135.00 price target on shares of PDD in a research note on Tuesday, November 18th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $139.87.

PDD Price Performance

NASDAQ PDD opened at $102.65 on Friday. The stock has a market capitalization of $142.90 billion, a P/E ratio of 10.72, a P/E/G ratio of 0.90 and a beta of -0.01. The business has a 50 day simple moving average of $106.05 and a 200 day simple moving average of $118.04. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41.

About PDD

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.